4. question

4th question

Morrisey & Brown, Ltd., of Sydney, Australia, is a merchandising firm that is the sole distributor of a product that is popularity among Australian consumers. The company's income statements for the three most recent months follo MORRISEY & BROWN, LTD. Income Statements For the Four Quarters Ending December 31 Quarter 1 Quarter 2 5,000 Quarter 3 5,600 Sales in units 4,500 Quarter 4 5,100 A$510,000 306,000 Sales revenue A$500,000 A$450,000 A$560,000 Less: Cost of goods sold 300,000 270,000 336,000 Gross margin 200,000 180,000 224,000 204,000 Less: Operating expenses: Advertising expense 21,500 21,500 21,500 21,500 Shipping expense 36,000 38,000 42,400 37,900 Salaries and commissions 81,000 79,000 92,200 87,900 Insurance expense 6,500 6,500 6,500 6,500 Depreciation expense 15,500 15,500 15,500 15,500 Total operating expenses 160, 500 160,500 178,100 169,300 A$ 39,500 A$ 19,500 A$ 45,900 A$ 34,700 Net income (Note: Morrisey & Brown, Ltd.'s Australian-formatted income statement has been recast into the format common in Ca Australian dollar is denoted by A$.) Required: 1. Identify each of the company's expenses (including cost of goods sold) as being variable, fixed, or mixed. Help Save & Exi Morrisey & Brown, Ltd., of Sydney, Australia, is a merchandising firm that is the sole distributor of a product that is increasing in popularity among Australian consumers. The company's income statements for the three most recent months follow: MORRISEY & BROWN, LTD. Income Statements For the Four Quarters Ending December 31 02:19:52 Sales in units Quarter 1 Quarter 2 5,000 4,500 A$500,000 A$450,000 A$560,000 Quarter 3 5,600 Quarter 4 5,100 Sales revenue A$510,000 Less: Cost of goods sold 300,000 270,000 336,000 306,000 Gross margin eBook 200,000 180,000 224,000 204,000 Less: Operating expenses: Advertising expense 21,500 21,500 21,500 21,500 Shipping expense 36,000 38,000 42,400 37,900 Salaries and commissions 81,000 79,000 92,200 87,900 Insurance expense 6,500 6,500 6,500 6,500 Depreciation expense 15,500 15,500 15,500 15,500 Total operating expenses 160, 500 160,500 178,100 169,300 Net income A$ 39,500 A$ 19,500 AS 45,900 A$ 34,700 (Note: Morrisey & Brown, Ltd.'s Australian-formatted income statement has been recast into the format common in Canada. The Australian dollar is denoted by A$.) Required: 1. Identify each of the company's expenses (including cost of goods sold) as being variable, fixed, or mixed. Expenses Classification Cost of goods sold Advertising expense Shipping expense Salaries and commissions Insurance expense C raw